Chanda Kochhar Money Trail-IV: Ubiquitous Mhatre locked in Kochhar family enterprise
As one goes deeper and deeper into the concentric circle of rot left behind by the Kochhars, the revelations are confounding. La Familia was never of this magnitude and its bedrock couldn't have been open and naked cronyism to this degree. Paper trails always have a missing link. The missing link leads you to the destination, in this case helps connecting the dots.
In Brothers Kochhars case, the missing link is Sharad Mhatre. In hot pursuit of the paper trail of family enterprise, IANS has now found that two investment companies, Elegant Investrade Pvt Ltd and Daisy Finvest, were used by the Kochhars to further their business interests. Elegant was incorporated on January 29, 1997 by Ms Savita Naik and Mr Sidharth Jadhav for Rs 20.
Sometime in 1997, it was acquired by Anand Mohan Dalwani, a resident of 6 B Prem Kutir, 177, Backbay Reclamation, Marine Drive, Mumbai-20. The same year, Banque Indo Suez (later known as Calyon Bank), one of the key lenders to Credential Finance Ltd (CFL), filed company petition No 265 of 1997 before the Bombay High Court for winding up of CFL for their failure to repay the loan and the appointment of a liquidator.